Shares of podcast specialist Audioboom (BOOM) have been a firm market in recent sessions, despite the stock market as a whole suffering wobbles. Today we found out what the buyers were betting on as the company said it has continued its strong sales momentum, with signed advertising bookings after less than six months of this year now representing more than 99% of the recently upwardly revised market expectations for revenues for the year ending 31 December 2021. Indeed, Audioboom was able to deliver one of the sweeter phrases in the RNS vocabulary, saying it will generate revenues significantly in excess of current market expectations for the year and an increased adjusted EBITDA.
Much followed TomCo (TOM) delivered its interim results, and perhaps most importantly, an operational update. In this the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, said that its Greenfield joint venture with Valkor LLC has made progress despite the COVID-19 pandemic. The oil sands plant at Asphalt Ridge developed by Petroteq Energy Inc has now been brought into sustained production, with a target of being capable of producing 10,000 barrels of oil per day.
There was news from one of last year’s best stock market performers, Novacyt (NCYT), an international clinical diagnostics group, as it delivered its audited results for the year ended 31 December 2020 as well as a strategy update. Although presumably it can leave some of the latter part to the Government enforced testing and ongoing Project Fear over variants. Indeed, the company said that, “supporting an urgent global demand for PCR testing, the future of Novacyt has been secured, having repaid all long-term debt, significantly strengthened the balance sheet, and delivered on a number of strategic objectives to support future growth.” It may be that the company mentioning an M&A strategy is the best indicator of what lies ahead for shareholders.
There was something of a Sunday Roast Podcast effect, literally, for Dukemount Capital (DKE) as the long dated income play now focused on gas peaking announced that Kevin Hornsby, one of the regular “Roasters” on the Vox Markets show, has taken a 3.98% stake in the company. Last week Dukemount announced it had secured funding for a joint venture with flexibility power firm HSKB Ltd. The funding is a £6.5 million facility with Global Corporate Finance Opportunities 14. Company expects to draw down £3 million which will be lent to fund the HSKB joint venture over the next six months. The facility continues for 24 months and is unsecured and interest free.
Perhaps not quite up to the same level, but of significance nonetheless, was natural resources investing company ADM Energy (ADM), as it provided an update on its loan facilities agreement announced on 25 August 2020. The loan will be extended to December and June next year in almost equal parts, with the company saying that the extension of the loan agreements further demonstrates the lenders confidence in ADM and our growth prospects as we continue our strategy of building a portfolio of assets to deliver value to shareholders.
One of the rules of the stock market game is that it can pay to watch stocks that rise on placing news. In this respect mining exploration company Altona (ANR) which has a focus on Rare Earth Elements mining projects in Africa, said it has raised £177,700 at12p per share, a 29% premium to the closing share price on 18 June 2021. Premium placings have worked very well of late on the London market, with Wishbone Gold (WSBN) recently underlining this point. Shares of Altona rallied 23% on the day to 10.5p.
Finally, it is always good to see a former small cap hit the mainstream media, and this was the case at sprawling pharma services group Open Orphan (ORPH) to start the week featured alongside its stock market bound spin off, Poolbeg Pharma. With the somewhat cute line of how Poolbeg’s flu treatment is something which is not be sniffed at, we are treated to the story in The Times of how the “Donegal deal maker”, Cathal Friel, called up future CEO Jeremy Skillington for him to head up Poolbeg. Apparently, it was an opportunity which was too good to refuse, a message that may be something for some stock market investors to consider as well.